Researchers have found that a drug used to treat angina can also help people with heart failure.
The drug, ivabradine, could save more than 10,000 lives a year, says Professor Cowie, who led the UK-based study.
Further studies are now needed to establish its role in heart failure management.
Professor Cowie, a consultant cardiologist at London's Royal Brompton Hospital, said the drug can be added to betablockers and given to those who cannot take betablockers, such as people who have asthma.
He said: "It slows the pulse rate without dropping blood pressure or affecting asthma. So it's a very exciting new option for doctors and patients to think about if they have heart failure."
He stressed the drug was not suitable for everybody, only those who already had a serious heart condition.
The trial involved more than 6,500 people in 37 countries who already used standard treatments such as betablockers.
Over a typical study period of two years, ivabradine cut the risk of death from heart failure by 26%. It had a similar impact on the likelihood of patients being admitted to hospital.
The research findings were presented at the European Society of Cardiology (ESC) annual meeting in Stockholm.
Prof Cowie described as conservative estimates that 10,000 deaths could be prevented in the UK by prescribing the drug to eligible patients.
He added: "For people who have heart failure, their heart is always going too fast. Even when they are sitting doing nothing, their heart rate might be going along at 80 or 90 beats per minute and this drug helps slow that down.
He said: "The evidence represents a significant clinical breakthrough in the management of heart failure and is incredibly important information for patients with this condition.
“Many unresolved questions about the generalisability of these results and applicability to a broader population of patients can only be addressed in additional clinical trials."
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